Treatment of unsecured loan paid after death of my husband
This query is : Resolved
24 December 2022
An unsecured loan of Rs.5.00 lac was receivable by my client A from a person. Mr. A died. Now how can wife of Mr. A get the said loan transferred to her name ? so that Interest and ITDS can be shown be in her ITR .
24 December 2022
Whether any amount/capital received by wife as legal heir from her husband?
24 December 2022
No, nothing received.
24 December 2022
Interest paid by her will be her personal expenses, while loan repayment would reduce her capital to that extent. She cannot get any deduction under IT act.
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